Tambourah Metals commences gold and lithium exploration at Pilbara projects
Tambourah Metals (ASX: TMB) has commenced drilling at its flagship Tambourah gold project in Western Australia’s Pilbara region.
The reverse circulation campaign will comprise 20 holes for a total 2000 metres and will test for extensions to gold mineralisation at more than 30 historic prospects.
First-pass targets have been identified following an electromagnetic Loupe survey at the highly-prospective Worlds Fair discovery, which is located 550m north of the Western Chief prospect.
There has been no record of modern exploration at Worlds Fair since mining took place in 1898.
Tambourah has also reviewed historic mapping and geophysical, geochemical and historic datasets in preparation for drilling.
Tambourah has said it will conduct a lithium exploration campaign at the Shaw River and Tambourah North projects which were acquired from Minrex in July.
The company paid $50,000 in cash and issued $100,000 in fully-paid ordinary shares to assume sole ownership of six projects across the Tambourah, Shaw River and Coondina tenements in the Pilbara.
Site inspections have been completed on the new tenure which is located 20 kilometres to the east of the gold project.
The presence of pegmatite swarms at all projects has been confirmed.
Previous exploration conducted by Minrex Resources (ASX: MRR) at Tambourah North proved the presence of lithium-tantalum mineralisation with rock chip assay results of 2.56% lithium oxide with 105 parts per million caesium, 80ppm tantalum, 40ppm niobium, 100ppm tin and 1293ppm rubidium; and 1.91% lithium oxide, 518ppm caesium, 370ppm tantalum, 150ppm niobium and 2542ppm rubidium.
Historic samples from Shaw River include up to 42.2% tin and 3.41 tantalum which is believed to indicate a possible highly-fractionated lithium-caesium-tantalum (LCT) pegmatite system.
Russian Jack raising
Earlier this month, Tambourah launched a $2.5 million capital raising on the back of “encouraging” assays from the Russian Jack lithium project.
Funds raised through a placement and $1.2 million share purchase plan will be used for drilling at the Tambourah project, delineating additional targets at Russian Jack and maiden drilling at Shaw River.
Russian Jack is located 295km southeast of Port Hedland and comprises five exploration licences and three applications.